Rokstad Holdings Corporation
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- Proceeding
- Interim receivershipSection 47(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended
- File
- B-240477
Filings held60
Last activity30 Apr 2025
On the record711 days
Secured debt$61.1M
OverviewSummary updated
Rokstad Holdings Corporation has been under interim receivership since 10 October 2024, when the Supreme Court of British Columbia, sitting in bankruptcy and insolvency, made a receivership order under section 47(1) of the Bankruptcy and Insolvency Act. The proceeding is carried on court file B-240477. It remains active. Beyond the commencing order, the record contains no further steps — no subsequent applications, reports or hearings have been entered.
Claims processIf you are owed money
A claims procedure has been established — see the order for deadlines.
Proceedings AIAsk this case — answers cite the filings
Case updates60 dated entries
#Sale
The court granted an approval and vesting order for the sale to GRAHAM MAINTENANCE SERVICES LP and 42 WEST CONSTRUCTORS LTD. Closing terms, as extracted: Vacant possession and delivery of Receiver's Certificate upon closing; Receiver may extend Closing Date with Purchasers' consent.
#Sale
The court granted an approval and vesting order for the sale to the Debtors' right, title, and interest in and to the Purchased Assets, the Debtors' right, title, and interest in and to the Purchased Assets.
Source: Notice of Filing of Entered Approval and Vesting Order and Back-Up Approval and Vesting Order
#Sale
The court granted an approval and vesting order for the sale to 1501841 B.C. Ltd. and STELLEX Power Line OPCO LLC.
Source: Stellex Backup Transaction Approval and Vesting Order
#Sale
The court granted an approval and vesting order for the sale to 1501841 B.C. Ltd. and STELLEX Power Line OPCO LLC. Closing terms, as extracted: Closing to occur with delivery of Purchased Assets at 12:00 noon on the Closing Date, subject to Permitted Encumbrances; Receiver may extend Closing Date by consent.
#Filing
Application Response of Altec Capital Services, LLC, Global Rental Canada ULC and Global Rental Co., Inc. — Response / objection pleading
#Order
The court approved a sale and investment solicitation process. A bid deadline of 2025-01-10.
Source: Sale Solicitation Process Order
#Filing
Notice of Application of the Receiver (Rokstad SSP Approval, KERP, Sealing Order) — Application / notice of application
#Filing
Notice of Application (Increase in Receiver's Borrowings) — Application / notice of application
#Order
The court appointed FTI Consulting Canada Inc. as Receiver, on the application of Stellex Power Line Opco LLC and 1501841 B.C. Ltd.. Court file B-240477.
Source: Receivership Order
#Order
Receivership order made under section 47(1) of the Bankruptcy and Insolvency Act, commencing the interim receivership in the Supreme Court of British Columbia on file B-240477.
Source: Interim Receivership Order
Parties
Debtor
Rokstad Holdings Corporation
Interim receiver
FTI
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Loo | Supreme Court of British Columbia | 10 orders, Nov 2024 – Feb 2025 | 9 cases on record |
Counsel of record
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Crown Capital Partner Funding LP, by its general partner Crown Capital LP Partner Funding Inc. ("Crown") (Crown Facility acquired by Stellex on October 29, 2024)Guarantees and security from RPI, RPE and Rok Air mirroring CWB's security (obtained June 12, 2023); original Crown Facility principal advanced CAD$30,000,000 (April 2019) plus further advance of $20,000,000 (November 2019 ARLA); Crown Facility postponed and subordinated to the CWB Facility up to the Intercreditor Agreement's "Senior Loan Cap" of CAD$70,000,000 — Amount per Crown Demand dated October 2, 2024, stated as of September 6, 2024; reflects payment-in-kind interest accrued on top of original loan principal. Facility acquired by Stellex on October 29, 2024, after the demand. — debtor: · as of 6 Sep 2024 | $61.1M | Affidavit #1 of Bernard Aaron Rokstad, sworn Oct 31, 2024 |
| Secured | Canadian Western Bank (CWB) Facility (acquired by Stellex Power Line Opco LLC / 1501841 B.C. Ltd. on October 7, 2024) · in 80 casesGeneral Security Agreements, guarantees, DACA and related loan security under Amended and Restated Credit Agreement dated December 22, 2020 (ARCA), CWB Facility limit CAD$65,000,000 (as amended April 1, 2021); Intercreditor Agreement Senior Loan Cap CAD$70,000,000 — CAD portion of total CWB Facility balance per CWB Demand of September 4, 2024, paired with the USD-denominated portion of the same facility. Facility sold/assigned by CWB to Stellex on October 7, 2024. — debtor: Rokstad Holdings Corporation and the Rokstad Group entities (borrowers/guarantors under the CWB Loan Agreement/ARCA) · as of 3 Sep 2024 | $7.94M | Affidavit #1 of Bernard Aaron Rokstad, sworn Oct 31, 2024 |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Sale processAs stated in the filings
8 transactions · 4 closed · 3 approved · 1 back-up bid — The two asset sales consisting of the sale of the Canadian assets to Graham and the sale of the United States based assets to Stellex did not generate sufficient proceeds to satisfy the secured debt held by Stellex.First Report of the Trustee · 30 Apr 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Stellex Power Line OPCO LLC and 1501841 B.C. Ltd.Stalking horsethe Purchased Assets · asset sale · nominee/assignee: 1501841 B.C. Ltd., or their designated nominee(s) · agreement 5 Dec 2024 | $45M (mixed consideration)Each Buyer's credit bid of Secured Obligations as Purchase Price for the Purchased Assets is proper pursuant to Section 363(k) of the Bankruptcy Code | Approved13 Dec 2024 | Sale Solicitation Process Order |
| 1501841 B.C. Ltd. and STELLEX Power Line OPCO LLCStalking horsethe Purchased Assets · asset sale · nominee/assignee: their designated nominee(s) · agreement 5 Dec 2024 | not stated | Closeddate not stated | Receiver Certificate (Stellex) |
| 1501841 B.C. Ltd. and STELLEX Power Line OPCO LLCthe assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 20 Jan 2025 | not stated | Approved31 Jan 2025 | Stellex Transaction Approval and Vesting Order |
| GRAHAM MAINTENANCE SERVICES LP and 42 WEST CONSTRUCTORS LTD.the Purchased Assets described in the Sale Agreement · asset sale · nominee/assignee: their Affiliates · agreement 20 Jan 2025 | not stated | Closeddate not stated | Receiver Certificate (Graham) |
| Buyers under the Asset Purchase Agreement, unnamed in this noticethe Debtors' right, title, and interest in and to the Purchased Assets · asset sale | not stated | Approved31 Jan 2025 | Notice of Filing of Entered Approval and… |
| Buyers under the Stalking Horse APA (back-up transaction), unnamed in this noticeStalking horsethe Debtors' right, title, and interest in and to the Purchased Assets · asset sale | not stated | Back-up bid31 Jan 2025 | Notice of Filing of Entered Approval and… |
| Graham Maintenance Services LP and 42 West Contractors Ltd.the Canadian assets owned by Rokstad 2018 · asset sale | not stated | Closeddate not stated | First Report of the Trustee |
| Stellex Capitalthe assets located in the United States · asset sale | Credit bidThe credit bid was structured as a stalking horse offer in the form of a binding asset purchase agreement for all of the assets of the Rokstad Group. | Closeddate not statedoutside 10 Feb 2025 | First Report of the Trustee |
AdvisorsFTI Consulting Canada Inc. (sale agent)Rokstad Holdings Corporation Teaser
Closing termsClosing to occur with delivery of Purchased Assets at 12:00 noon on the Closing Date, subject to Permitted Encumbrances; Receiver may extend Closing Date by consentStellex Transaction Approval and Vesting Order
Documents
60 filings
| Date | Document | File |
|---|---|---|
| Certificate of Appointment | ||
First Report of the Trustee
| ||
| Form 31 - Proof of Claim | ||
| Form 36 - Proxy | ||
| Notice of Bankruptcy | ||
Receiver Certificate (Stellex)
| ||
Receiver Certificate (Graham)
| ||
AVO Recognition Order
| ||
Entered Sealing Order
| ||
Service List
| ||
Bankruptcy Authorization Order
| ||
Borrowing Order
| ||
Graham Transaction Approval and Vesting Order
| ||
Notice of Filing of Entered Approval and Vesting Order and Back-Up Approval and Vesting Order
| ||
Stellex Backup Transaction Approval and Vesting Order
| ||
Stellex Transaction Approval and Vesting Order
| ||
| Notice of Application (Borrowing Increase) | ||
| Supplemental Report to Fourth Report of the Receiver | ||
| Affidavit #1 of Bart Watkins | ||
| Affidavit #1 of Caitlyn Ireland | ||
| Affidavit #1 of Elizabeth Henderson | ||
| Application Response of Altec Capital Services, LLC, Global Rental Canada ULC and Global Rental Co., Inc. | ||
| Application of the Receiver | ||
| Declaration ISO Sale Recognition Motion | ||
| Fourth Report of the Receiver | ||
| Notice of Sale Motion | ||
| Sale Recognition Motion | ||
| Settlement Recognition Order | ||
Entered Order
| ||
| Notice of Application | ||
Third Report of the Receiver
| ||
| Confidentiality Agreement (NDA) | ||
| Declaration in Support of Settlement Recognition Order | ||
KERP Order
| ||
Omnibus Approval Order
| ||
Rokstad Holdings Corporation Teaser
| ||
Sale Solicitation Process Order
| ||
Sale Solicitation Process Procedures
| ||
Sealing Order
| ||
| Settlement Recognition Motion | ||
| Order Granting Recognition | ||
| Notice of Application of the Receiver (Rokstad SSP Approval, KERP, Sealing Order) | ||
Second Report of the Receiver
| ||
Order re: Increased Borrowings
| ||
| First Report of the Receiver | ||
| Notice of Application (Increase in Receiver's Borrowings) | ||
| Joint Administration Order | ||
| Provisional Relief Order | ||
| Recognition Hearing Notice | ||
Recognition Hearing and Notice order
| ||
| List of Known Creditors | ||
| Notice to Creditors | ||
| Affidavit #1 of I. Krasik, sworn October 10, 2024 | ||
| Affidavit #1 of J. Austen, sworn October 25, 2024 | ||
| Affidavit #2 of I. Krasik, sworn October 25, 2024 | ||
Receivership Order
| ||
Affidavit #1 of Bernard Aaron Rokstad, sworn Oct 31, 2024
| ||
| Application Response of Rokstad et al | ||
First Report of the Interim Receiver
| ||
Interim Receivership Order
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Rokstad Holdings Corporation” (Interim receivership), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/rokstad-holdings-corporation